The adidas Group announced on Thursday that it has signed a share purchase agreement to acquire Five Ten, a leading performance brand in outdoor action sports. Adidas intends to purchase the entire Five Ten business, which includes all of the issued share capital of Five Ten USA.

Five Ten sneakers

The total purchase price is USD 25 million in cash at closing and contingent payments, which are dependent on Five Ten achieving certain performance measures over the next three years. The transaction is expected to close in the next couple of weeks.

As part of its Strategic Business Plan Route 2015, the adidas Group expects sales in the outdoor segment to exceed € 500 million by 2015 based on organic growth. Through the acquisition of Five Ten, the adidas Group will be even better positioned towards the goal to become a leading player in the outdoor market.